The limited liability company "Kapital PIF" AMC (LLC "Kapital PIF" AMC) was established by the Financial Group "IFD Kapital" in January 2004.

The main activity of the Company is the management of the closed real estate, rental, venture and mortgage mutual funds.

On the 16th of April 2004 FCSM (Federal Commission for the Securities Market) of the Russian Federation granted LLC "Kapital PIF" AMC" the license №21-000-1-00159 for the management of the investment funds, mutual funds and non-state pension funds.

There are seven funds under management of the Company:

• "The closed-end real estate mutual fund "Stroitelniy Komplex"
  (set up in September 02, 2005; volume of 300 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 535 049 889,77 rub.
  Estimated share cost - 1 103,94 rub.
• "The closed-end real estate mutual fund "SKM Kapital"
  (set up in December 09, 2005; volume of 250 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 335 537 085,36 rub.
  Estimated share cost - 13 421,48 rub.
• "The closed-end real estate mutual fund "Brik perviy investitcionniy"
  (set up in June 28, 2006; volume of 80 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 79 112 211,32 rub.
  Estimated share cost - 988,90 rub.
• "The closed-end real estate mutual fund "Finansoviy Partner"
  (set up in June 30, 2006; volume of 1 billion rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 1 131 160 456,92 rub.
  Estimated share cost - 1 131,16 rub.
• "The closed-end real estate mutual fund "Zhilishchnaya programma"
  (set up in September 21, 2006; volume of 500 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 1 356 513 692,66 rub.
  Estimated share cost - 1 130,43 rub.
• "The closed-end real estate mutual fund "Gorodskaya nedvizhimost"
  (set up in June 07, 2007; volume of 160 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 159 260 113,51 rub.
  Estimated share cost - 995,38 rub.
• "The closed-end real estate mutual fund "Finansovie aktivy"
  (set up in June 29, 2007; volume of 385 million rubles):
  * net asset value and estimated share cost for August 31, 2007 are
  Net asset value - 384 432 089,61 rub.
  Estimated share cost - 998 524,91 rub.

Based on the results of the activity of the company during the 2nd quarter of 2006, the rating agency "NAUFOR" granted "Kapital PIF" AMC "A-" rank (which means the third level of a high-reliability). "Kapital PIF" AMC stands at 28th place by its net asset value (according to Investfunds)

Roman N. Shemenduk holds the position of the General Director of LLC "Kapital PIF" AMC.

For additional information you may call 745-51-99; 411-52-00.

Products and Services

Projecting and Establishing of the Closed-end Mutual Funds

Establishment and management of the closed-end mutual funds have the following purposes:
Optimization of infrastructure ownership and assets management.
Attraction of investors for projects financing.
Investment of company assets and trust management capital.

Construction Projects Financing

Financing of real estate construction is carried out due to assets of the operating closed-end mutual funds controlled by "Kapital PIF" AMC.

The real estate market investments

"Kapital PIF" AMC places clients' assets in the real estate market. Funds are invested in the residential real estate and the office properties projects in the territory of the Russian Federation.

The legal form of the investments is the closed-end real estate mutual fund.

The investment strategy, terms and conditions of financing, and the project selection requirements are fixed in the Investment Declaration of the fund.

Requisites

Taxpayer Identification Number (INN Code) 7702513045
Industrial Enterprise Classification Code (KPP Code) 770201001
Registered Address: Meshchanskaya str.7/21, building 1, Moscow, Russia, 129090
General Director - Roman N. Shemendjuk
Chief accountant - Natalia L. Mjadzel